Mathematics for Business and Economics

Abstract

Knowledge of mathematical methods, especially, proficiency in Mathematics for Business and Economics, has become a prerequisite for students those wish to grasp economic & business phenomenon domestically or globally. Underpinning the importance of the course, many experts in the subject area have written many books with one common goal that is it can be helpful to users in their endeavors. Mine is no exception. Moreover, the articulation of this book makes it to be unique based on my attempts in this book addressing the ongoing concerns / questions: how much math do the students majoring business or economics need for succeeding in their endeavors? Do these students need proficiency in math theories or do they just need proficiency in the application of mathematical methods? Do these students, in general, have backgrounds in mathematics, I mean, in calculus, algebra, matrices and geometry? Can effective application of math-techniques in subject areas of business and economics make these courses to be technical meeting the 21st Century needs?

Addressing the concerns or questions posed, keeping the goals in mind, my emphasis is on application of math-techniques, not math-theorems & its elaboration. In this approach, meeting the 21st Century needs when it come the arena of business and economics, this book has captured applications of algebra, linear equations, matrix algebra in measuring revenue, costs, profit and equilibrium price & quantity in market. Capturing consumer & producer surpluses, social gain / losses, elasticity, utility or satisfaction measurement, decision analysis and policy diagnosis, this book has captured the applications of various math-techniques. They are: coordinates & geometry and the basics of calculus namely differentiation, integration, logarithm and forecasting fundamentals to business. Rather emphasizing theories, efforts have been invested in this book on applications of mathematical models where exercises have been included so that it can be instrumental to students and professionals. This approach makes this book to be exceptional from other-one written for courses namely: Mathematics for Business & Economics and Fundamental of Mathematics.

This book not only presents the fundamentals of mathematics, but also it shows how mathematics is applied, especially, in business economics. Thus, this resource has been created with goals in mind. They are: accessibility, affordability and customization for ensuring facilitation for student engagement - all while encouraging learners toward high levels of learning globally. Professionals, Instructors and students alike will find that this book offers a strong foundation of math-techniques application.